JAKARTA: PT Dian Swastika Sentosa Tbk through its subsidiary PT Borneo Indobara disbursed US$3.3 million or IDR29.7 billion loan facility to PT Golden Energy Mines.Such loan is categorized as affiliated transaction considering the companys majority shares ownership (more than 99%) in Borneo Indobara and Golden Mines, said Dian Swastika Corporate Secretary, Hermawan Tarjono.The regulation of Capital Market and Financial Institution Watchdog (Bapepam-LK) No. IX.E.1 on Affiliated Transaction and Conflict of Interest obliges listed companies to hold information disclosure once they hold affiliated transaction.The loan facility will be used to foster its coal mining unit, including its infrastructure and facilities, he said to Indonesia Stock Exchange (IDX) yesterday.The loan will mature on 12 July 2011 to 31 July 2012 with 8% per year interest rate. Golden Mines is the subsidiary of Sinarmas Group focusing on coal mining.Dian Swastika controlled by Sinarmas Group through Fuganto Widjaja, the son of Indra Widjaja, is currently negotiating with potential investors of Golden Mines stock through private placement as at the same time will dispose the stocks through initial public offering (IPO).Initially, the company expects Golden Miness IPO to be realized in August, yet, the plan is potentially delayed until December 2011 as the company still waits the negotiation result with those investors.Although the company has secured preliminary contract from PT Bursa Efek Indonesia (BEI) since June, Golden Mine is yet to submit any offering documents to Capital Market and Financial Institution Watchdog (Bapepam-LK).The company delays the IPO as the negotiation with potential buyers through private placement is yet to complete, said PT Sinarmas Sekuritas President Director Kokaryadi Chandra. Sinar Mas serves as the underwriter during such corporate action. (t02/msw)

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